Economic Growth Potential in 2016

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On May 26, Asian Development Bank together with Paññāsāstra University of Cambodia (PUC) organized a workshop to present its report on Cambodia’s economy and its future outlook.  The occasion also marked Asian Development Bank’s 50th anniversary of work in Cambodia.

 

The keynote speaker for this year’s event was Mr. Jan Hansen, Senior Country Economist, Cambodia Resident Mission, Asian Development Bank. Mr. Hansen addressed Cambodia’s economic future and public awareness of economic development benefits, risks, and actions to be taken.

Cambodia is a small open economy which has been growing steadily. The report published by Asian Development Bank for 2015, shows that industry, especially the garment and construction sectors, increased by 7.00%.   In addition, tourism grew by 6.01 %.  However, agriculture suffered smaller growth than the other fields due to unreliable weather. By opening its small market to the globe, Cambodia has received some comparative advantages, including international competition, Foreign Direct Investment, and foreign capital.

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